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cst6666 · 2024年06月13日

能解释下答案吗?不太明白

NO.PZ2023120801000122

问题如下:

The process of securitization is least likely to allow banks to:

选项:

A.

reduce the layers between borrowers and ultimate investors.

B.

repackage loans into simpler structures.

C.

originate loans.

解释:

Correct Answer: B

Securitization allows banks to originate (or create) loans and the process results in a reduction in the layers between borrowers and ultimate investors. The loans are repackaged into more complex, not simpler, structures.

Securitization allows banks to originate (or create) loans and the process results in a reduction in the layers between borrowers and ultimate investors. The loans are repackaged into more complex, not simpler, structures.

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已采纳答案

吴昊_品职助教 · 2024年06月13日

嗨,爱思考的PZer你好:


通过证券化,银行将贷款出售给一个特殊目的机构(SPV)。这些实体会将贷款打包成证券,并将这些证券出售给最终的投资者。这减少了原本借款人与银行之间的层级,因为现在借款人偿还贷款的现金流直接流向持有证券的投资者。

这些贷款不是简单地作为单独的贷款出售,而是被打包成证券。这个过程包括创建不同的证券层级(tranches),每个层级有不同的风险和回报特征。这使得整个结构比原始贷款组合更加复杂,而不是更简单,所以B选项的表述是错误的,当选。

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虽然现在很辛苦,但努力过的感觉真的很好,加油!

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